GH Research (NASDAQ:GHRS) Shares Up 4.1% - Should You Buy?

Key Points

• GH Research PLC's stock price increased by 4.1% to close at $13.07, despite a significant decline in trading volume compared to its average.
• Analysts have a positive outlook on GH Research, with seven buy ratings and a target price averaging $32.00, including a reaffirmed "market outperform" rating from JMP Securities.
• The company is engaged in developing therapies for psychiatric and neurological disorders, specifically focusing on 5-MeO-DMT for treatment-resistant depression.

GH Research PLC (NASDAQ:GHRS - Get Free Report) was up 4.1% during mid-day trading on Thursday . The stock traded as high as $13.16 and last traded at $13.07. Approximately 40,456 shares traded hands during trading, a decline of 88% from the average daily volume of 340,805 shares. The stock had previously closed at $12.56.

Analyst Ratings Changes

Several brokerages have recently commented on GHRS. JMP Securities restated a "market outperform" rating and issued a $39.00 target price on shares of GH Research in a research note on Tuesday, June 24th. Cantor Fitzgerald began coverage on shares of GH Research in a research report on Wednesday, June 4th. They set an "overweight" rating and a $25.00 target price on the stock. Zacks Research cut shares of GH Research from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 13th. Guggenheim dropped their price objective on shares of GH Research from $32.00 to $29.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Wall Street Zen raised shares of GH Research from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, GH Research has a consensus rating of "Moderate Buy" and a consensus price target of $32.00.

GH Research Stock Performance

The stock has a market cap of $652.98 million, a PE ratio of -16.96 and a beta of 0.98. The company's 50-day moving average price is $13.88 and its two-hundred day moving average price is $12.21.

GH Research (NASDAQ:GHRS - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported ($0.15) earnings per share for the quarter, beating analysts' consensus estimates of ($0.22) by $0.07. Equities research analysts forecast that GH Research PLC will post -0.8 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. RA Capital Management L.P. lifted its position in GH Research by 3.9% in the first quarter. RA Capital Management L.P. now owns 6,944,648 shares of the company's stock valued at $76,599,000 after purchasing an additional 257,959 shares during the last quarter. Lynx1 Capital Management LP increased its position in shares of GH Research by 15.8% during the fourth quarter. Lynx1 Capital Management LP now owns 4,858,994 shares of the company's stock valued at $34,013,000 after buying an additional 663,100 shares during the period. Cormorant Asset Management LP grew its holdings in shares of GH Research by 238.8% during the 1st quarter. Cormorant Asset Management LP now owns 2,009,482 shares of the company's stock worth $22,165,000 after acquiring an additional 1,416,439 shares during the period. Jefferies Financial Group Inc. bought a new position in shares of GH Research in the 1st quarter worth approximately $8,272,000. Finally, Alyeska Investment Group L.P. bought a new position in GH Research in the first quarter worth $5,018,000. Hedge funds and other institutional investors own 56.90% of the company's stock.

GH Research Company Profile

GH Research PLC, together with its subsidiary GH Research Ireland Limited, engages in developing various therapies to treat psychiatric and neurological disorders. It is involved in the development of 5-Methoxy-N,N-Dimethyltryptamine (5-MeO-DMT) therapies for the treatment of patients with treatment-resistant depression (TRD).